Contract For Sale Of Real Estate (Page 2 of 8) in pdf

All of the purchase price may be paid at any time, but all of the deferred payments shall bear

interest at the rate of______ percent per annum from____________________until paid; such

interest shall be paid and [Choose one by striking out inapplicable language]: is [included] [in

addition to] the above described required payments. Taxes on the premises for the current tax ear

shall be prorated between the Buyers and Sellers as of __________________ (date).

Buyer(s)'s Right to Possession

The Buyer(s) shall be entitled to possession of the lands on _________________, _____, and may

retain such possession so long as Buyer(s) is not in default under the terms of this Contract.

Buyer(s) Duty to prevent waste, prevent encumbrances.

Buyer(s) agree that at all times Buyer(s) will keep the premises and buildings (now or hereafter

erected) n good condition and repair and will not permit any waste or strip of the land or

premises, that the Buyer will keep the premises free from construction and all other liens and same

the Seller(s) harmless from such liens and reimburse Seller(s) all costa and attorneys's fees

incurred by Seller(s) in defending against such liens; that Buyer(s) will pay all taxes hereafter

levied against the property, as well as all water service rents, public charges and municipal liens

which hereafter lawfully may be imposed upon the premises, all promptly before the same or any

party thereof become past due and delinquent.

Buyer(s) Duty to provide insurance.

At Buyer(s)'s expense, Buyer(s) will insure and keep insured all buildings now or hereafter erected

on the premises against loss or damage by fire in an amount of not less than $______ in a

company or companies satisfactory to the Seller(s), specifically naming seller(s) as an additional

insured, with losses payable first to the Seller(s) and then to the Buyer(s) as their respective

interest may appear and all policies of insurance shall be delivered to the Seiler(s) as soon as

insured.

Seller(s)'s rights to cure defects without waiver of breach of contract.

If the Buyer(s) fail to pay any liens, costs, water rents, taxes or charges, the Seller(s) may do so

and any payment so made shall be added to and become part of the debt secured by the Contract

and shall bear interest at the above stated rate per annum, without waiver, however, on any right

arising to the Seller(s) for Buyer(s)'s breach on contract.

Seller(s)'s Obligation to Provide Marketable Title

Contract For Sale Of Real Estate Page 2